The Tri-Lakes Region of Northern El Paso County is characterized by large lots and a high prairie ponderosa forest. The town of Monument is very much becoming it’s own city with significant growth on the west side in Forest Lakes and the wildly popular new neighborhood of Sanctuary Pointe near Fox Run Regional Park. One of the paramount attributes of Monument is it’s strategic location snug up against the county line with Douglas County. By comparison, Monument offers one of the Top School Districts in the State and for an extra 20 minutes in the car, average home values that are significantly less than the high-dollars of Castle Rock, Castle Pines and Larkspur.Tri-Lakes 2018 Data Luxury
HIGHLIGHTS IN 2018:
- The Tri-Lakes Area has the third-highest average sales price of any area in the Pikes Peak Region, and in 2018, saw the largest average home price gain in the popular Northern County at 11.6%. Considering that in mid-2018, the Denver Metro Market flipped from an “inbound” market to an “outbound” market and that the Pikes Peak Region was the number one back-up location for Denver buyers, Monument home values likely have years of value growth ahead.
- The “get some land with my house” idea was wildly popular in 2018. All of the major “acreage” locations (King’s Deer, Bent Tree, High Forest Ranch) saw the dollar per square foot average increase between 10 and 11% in 2018. The average price for a home on 2.5+ acres in one of these neighborhoods is now $815,000.
- There were only five sales over $1 million in Monument in 2018, but that number should at least triple in 2019 with Filing 2 coming online in Sanctuary Pointe, Hilltop Pines starting construction south of King’s Deer and the fact that of the region’s 26 sales from $800,000 to $1 million in 2018, 21 of those were over $900,000.
Based on information from the Pikes Peak REALTOR® Services Corp. (“RSC”), for the period January 1, 2014 through December 31, 2018. RSC does not guarantee or is in any way responsible for its accuracy. Data maintained by RSC may not reflect all real estate activity in the market.